Twin Cities Housing Market – September 2016

Twin Cities Housing Market Update for September 2016

According to the Minneapolis Area Association of Realtors September 2016 Report on the Twin Cities Area Housing Market, September ended with 6727 new active listings of homes for sale, a decrease of -5.13% month-over-month.

September total inventory levels sit at 13,918 homes on the market. Inventory is down 20% from the previous year, and inventory levels month over month are steady.

During September, there were 5529 sold listings which is a -15.42% decrease compared to the previous month. Home prices see a dip this month. The average sold price for a single family home was $272,990 a decrease from $284,504 last month, and 2.6% higher than a year ago.